Paramount Lodging Advisors Successfully Transacts Chicago Renaissance OHare Hotel
Paramount Lodging Advisors | November 7, 2023
RADCO Hotel Division Acquires Aloft Phoenix-Airport Hotel
The RADCO Companies | August 8, 2023
Acquisitions
District Hospitality Partners Acquires 225-Room Westin Annapolis
District Hospitality | July 13, 2023
July 13, 2023, Bethesda, MD — District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, announced today the acquisition of the Westin Annapolis. Located in bustling historic downtown Annapolis, the 225-room property provides guests convenient access to popular attractions, including the United States Naval Academy, Navy-Marine Corps Memorial Stadium, Maryland State House, and Chesapeake Bay. Guests can watch the sailboats while strolling along the Annapolis Waterfront or visit historic Annapolis. The property is walkable to over 90 independent stores and restaurants, only 30 miles fro...
Equinox Hospitality Acquires Four Points by Sheraton San Rafael Marin County for $38M
Equinox Hospitality | July 13, 2023
SAN FRANCISCO, July 13, 2023 -- Equinox Hospitality, a premier hotel investment, management, acquisition, and development company, has acquired the Four Points by Sheraton San Rafael Marin County for $38 million. This acquisition marks Equinox's fifth successful addition to its hotel portfolio in the past year. "The potential of this property has always resonated with me, having kept an eye on it for quite some time," said Adam Suleman, principal at Equinox Hospitality. "When it came onto the market, it felt like the perfect alignment of opportunity. Marin County is an affluent market that presents a strong demand...
Mission Hill Hospitality Expands Select Service Portfolio With Two Acquisitions in Clearwater Beach, FL
Mission Hill Hospitality | July 11, 2023
DENVER, CO – July 11, 2023: Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired two select service Marriott hotels located in Clearwater Beach, Florida: the 144-key AC Hotel Clearwater Beach and the 139-key Courtyard Clearwater Beach. Terms are undisclosed. These are the 30th and 31st properties added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. The assets are Mission Hill’s fourth and fifth acquisitions in Florida, following the Inn of Naples - Tapestry Collection by Hilton, the SpringHill Suites by Marriott Navarre Beach and the Ho...
Sojern Acquires VenueLytics to Bolster Its Platform for the Hospitality Industry
Sojern | July 11, 2023
SAN FRANCISCO – 11 July, 2023 – Sojern, the leading travel marketing platform, today announced the acquisition of VenueLytics, the hospitality industry’s most integrated guest experience platform serving independent hotels, resorts, chains and casinos. Sojern will incorporate VenueLytics’ capabilities as an extension of the Sojern Travel Marketing Platform. Sojern has long been a direct bookings driver for hotels—providing comprehensive digital advertising solutions that help travel marketers find, attract and convert new travelers, re-activate existing guests to build loyalty, and maximize net revenue per available room (RevPA...
Global Holdings Announces Acquisition of the 190-Key Mondrian Hotel on Park Avenue
Global Holdings Management Group | July 7, 2023
NEW YORK--Global Holdings, the international real estate development and investment firm led by Chairman and Founder Eyal Ofer, today announced the acquisition of the Mondrian Park Avenue, a 190-key boutique hotel in Manhattan’s NoMad neighborhood. “Mondrian Park Avenue is an extraordinary asset, perfectly located in the heart of Manhattan at a time when tourists and local visitors are flooding back into the city,” said Jonathan Ofer, Chief Executive Officer of Global Holdings Management Group. “Moin Development did an incredible job converting this property into one of Park Avenue’s best hotels.” Global Holdings previously ...
Apple Hospitality REIT Acquires the Courtyard by Marriott Cleveland University Circle for $31M
Apple Hospitality REIT, Inc. | July 6, 2023
RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle (the “Hotel”) for $31 million, or approximately $201,000 per key. “We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Cleveland offers a wide variety of demand generators from business and leisure to academic, heal...
Whitestone Companies Purchases Five Hotels From KKR Adding 612 Guestrooms to Portfolio
July 6, 2023
Columbus, OH – July, 6, 2023 – Today Whitestone Companies announced the purchase of five hotels from KKR totaling 612 guestrooms. The hotels include: the Hilton Garden Inn Colorado Springs, Homewood Suites Colorado Springs, Homewood Suites Princeton, Homewood Suites Cleveland, and Courtyard West Palm Beach Airport. “Today is a great day,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We are excited to add these new properties to our growing portfolio. I would like to thank all the people who put in an incredible amount of work to make this deal happen.” Whitestone Companies is a real estate investment com...
Meriwether Companies Acquires Morgan Run Club & Resort in Rancho Santa Fe, California
Meriwether Companies | July 5, 2023
RANCHO SANTA FE, Calif., July 5, 2023 -- Meriwether Companies, a private real estate investment and development firm, has acquired Morgan Run Club & Resort in Rancho Santa Fe, one of Southern California's most affluent communities. The resort and private club is set amid majestic hills and enjoys near-perfect year-round weather along with a prime location just five miles from the Pacific Ocean and Del Mar Racetrack, about 20 miles north of downtown San Diego. Situated across 200 acres, Morgan Run has long attracted members and guests seeking a variety of outdoor fitness offerings and boutique accommodations. M...
Ryman Closes Acquisition of JW Marriott San Antonio Hill Country Resort & Spa From Blackstone REIT for $800M
Ryman Hospitality Properties, Inc. | July 5, 2023
NASHVILLE, Tenn., July 5, 2023 -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”) announced today it has closed the previously announced acquisition of the JW Marriott San Antonio Hill Country Resort & Spa (“JW Hill Country”) in San Antonio, Texas from Blackstone Real Estate Income Trust, Inc. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “I want to thank our Ryman team and the Blackstone team for facilitating a smooth closing process. We are excited to begin integrating this beautiful resort into our one-of-a-kind portfolio of group hotels and look forward to pursuing...
Waterton and Argosy Real Estate Partners Partnership Acquire 17-Acre Site Including the 13-Key Hounds Tooth Inn Near Yosemite National Park in Oakhurs
Waterton | June 28, 2023
(June 28, 2023 – Oakhurst, CA) – Waterton, a Chicago-based national real estate investor and operator, has partnered with Argosy Real Estate Partners, a manager of institutional real estate funds , to acquire the Hounds Tooth Inn, a 13-key independent bed and breakfast. The hotel is situated on a fully-entitled, 17-acre Qualified Opportunity Zone site in Oakhurst, CA, just south of the main gate to Yosemite National Park. The site will be re-developed into Outbound Yosemite Resort, a 135-key outdoor-inspired, lifestyle select-service hotel consisting of 108 new vacation rental cabins, 14 hotel rooms located above an expansive 12,500 squa...
Dauntless Capital Partners Purchases Hilton Garden Inn Bethesda Downtown
Dauntless Capital Partners | June 27, 2023
HOUSTON, TX (June 27, 2023) – Dauntless Capital Partners has purchased the 216-key Hilton Garden Inn Bethesda Downtown, it was announced today. The deal closed on June 8, 2023 in a purchase from Bethesda Hotel Associates, LLC, an affiliate of The Donohoe Companies, Inc. “We are incredibly excited about the acquisition of the Hilton Garden Inn Bethesda, which we believe is a premier sub market within Washington, D.C. This investment, which is the final acquisition of Dauntless Capital Partners Fund I, L.P., builds upon the portfolio that we’ve constructed of high-quality select-service and extended stay assets,” notes Jordan Benudiz...
Hotel Equities Promotes Dan Block to SVP of Operations
Hotel Equities (HE) | June 27, 2023
ATLANTA – June 27, 2023 – Hotel owner, operator and developer Hotel Equities (“HE”) is delighted to announce the promotion of Dan Block to Senior Vice President of Operations. In this expanded role, Block will oversee a diverse, multi-branded portfolio of hotels across the United States, driving operational excellence and ensuring outstanding guest experiences. Block will report directly to HE’s President of Hotel Operations, Al Smith. Joining HE in March 2022 through the Greenwood Hospitality partnership, Block held the position of Vice President of Operations, overseeing a diverse collection of lifestyle and full-service hotels. ...
Whitestone Companies Purchases Five Hotels From KKR Adding 612 Guestrooms to Portfolio
June 26, 2023
Columbus, OH – June 26, 2023 – Today Whitestone Companies announced the purchase of five hotels from KKR totaling 612 guestrooms. The hotels include: the Hilton Garden Inn Colorado Springs, Homewood Suites Colorado Springs, Homewood Suites Princeton, Homewood Suites Cleveland, and Courtyard West Palm Beach Airport. “Today is a great day,” said Jay Batra, Chief Executive Officer of Whitestone Companies. “We are excited to add these new properties to our growing portfolio. I would like to thank all the people who put in an incredible amount of work to make this deal happen.” Whitestone Companies is a real estate investment com...
OUTRIGGER Resorts & Hotels to Acquire Kaua‘i Beach Resort & Spa
OUTRIGGER | June 26, 2023
HONOLULU – OUTRIGGER Resorts & Hotels today announced that it will be investing further in its home market of Hawai‘i with a planned acquisition at Kaua‘i Beach Resort & Spa. Located in the town of Līhu‘e on the ‘Garden Island’ of Kaua‘i, the resort spans 25 lush acres of beachfront property and features 350 guestrooms with unparalleled ocean views. The transaction is expected to be completed and close on August 22, 2023. Kaua‘i Beach Resort & Spa, once acquired, will represent an important milestone in OUTRIGGER Resorts & Hotels' ongoing expansion efforts – offering guests a full-service resort on all fo...
Driftwood Capital Acquires 299-Key Hilton Dallas/Plano Granite Park Hotel
Driftwood Capital | June 26, 2023
DALLAS (June 26, 2023) – Driftwood Capital, a vertically integrated commercial real estate firm providing attractive returns in hospitality, announces the acquisition of the Hilton Dallas/Plano Granite Park. The 299-key hotel is centrally located within the 90-acre master-planned, mixed-use community of Granite Park in the north Dallas suburb of Plano. This marks the company’s third hotel acquisition in the Dallas-Fort Worth market; it also owns the 231-key Hilton Dallas/Rockwall Lakefront and the 248-key Hilton Dallas Southlake Town Square. Driftwood Capital plans to renovate the hotel’s guestrooms and meeting space, and Driftwood H...
Mission Hill Hospitality Expands Select Service Portfolio With Acquisitions in Alabama and Virginia
Mission Hill Hospitality | June 22, 2023
DENVER, CO – June 22, 2023: Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired two new hotel assets in a single transaction as it continues to expand its portfolio throughout targeted markets in the US. The deal includes the Residence Inn Tuscaloosa, a 111-key hotel in Tuscaloosa, AL, and the 103-key Home2 Suites by Hilton in Blacksburg, VA. Terms are undisclosed. These are the 28th and 29th properties added to the Mission Hill Hospitality portfolio since the company was launched in March 2021. It is Mission Hill’s first acquisition in Alabama and its second in Virginia. “T...
MMGY Global Acquires European Data Intelligence Firm TCI Research
MMGY Global | June 20, 2023
MMGY GLOBAL EXPANDS EUROPEAN OPERATIONS WITH BRUSSELS-BASED RESEARCH COMPANY MMGY Global, the world’s leading integrated travel and hospitality marketing firm, announced today that it has acquired TCI Research, a data intelligence group specializing in the travel, tourism and hospitality sectors. Now known as MMGY TCI Research, the organization further enhances MMGY Global’s travel intelligence capabilities while strategically expanding its European footprint with offices in Brussels and Paris. Founded in 2010 by industry veteran Olivier Henry-Biabaud, TCI Research now touts 1.2 million euros in annual net revenue as well as ...
Blackstone Completes Acquisition of Cvent for $4.6 Billion
Cvent | June 15, 2023
TYSONS, VA – June 15, 2023 – Cvent Holding Corp. (“Cvent”), an industry-leading meetings, events and hospitality technology provider, today announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone (“Blackstone”) for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion. The transaction, which was previously announced on March 14, 2023, includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners (“Vista”). As a resu...
Kirkwood Collection Acquires Three Luxury, Historic Properties in Palm Springs
Kirkwood Collection | June 13, 2023
TUESDAY, JUNE 13, 2023 – BEVERLY HILLS, CA- Continuing the momentum from their most recent acquisition in November 2022, the luxury boutique hotel group Kirkwood Collection is thrilled to announce that they have acquired three luxury, historic properties in Palm Springs: La Serena Villas, Del Marcos Hotel and The Three Fifty Hotel. All located in the heart of downtown Palm Springs, the addition of these hotels expands their Greater Palm Springs portfolio to five properties and brings the Kirkwood Collection portfolio to ten boutique hotels and properties throughout California. “Kirkwood Collection’s unwavering commitment to curating ex...
Ryman Hospitality Properties to Acquire JW Marriott San Antonio Hill Country Resort & Spa From Blackstone REIT for $800 Million
Ryman Hospitality Properties, Inc. | June 6, 2023
NASHVILLE, Tenn. and NEW YORK, June 06, 2023 -- Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”) and Blackstone Real Estate Income Trust, Inc. (“BREIT”) today announced a definitive agreement under which Ryman will purchase the JW Marriott San Antonio Hill Country Resort & Spa (“JW Marriott Hill Country”) in San Antonio, Texas for $800 million from BREIT. Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, said, “We identified the JW Marriott Hill Country as an ideal acquisition target quite some time ago. Located in an attractive and growing market with no emerging c...
KOP Group Acquires 105-Key Burns Hotel in London
KOP Group | June 6, 2023
(LONDON, 6 June 2023) – Singaporean investor, KOP Group, has announced the purchase of the 105-key Burns Hotel located within the Royal Borough of Kensington & Chelsea in London. The purchase through Knight Frank was completed on 30 May 2023. This is the second hotel the Group has purchased this year following their acquisition of Charlton House Hotel & Spa in Somerset via its public vehicle, KOP Limited. The Group will officially launch its Grade II listed, 28-room English country house in Somerset in summer 2023. Ms Leny Suparman, Group CEO and a Founder of KOP, said: “Our latest purchase, in one of London’s most affluent...
San Manuel Band of Mission Indians Acquires Ownership Interest in Waldorf Astoria Monarch Beach Resort & Club
San Manuel Band of Mission Indians | June 6, 2023
San Manuel Indian Reservation Near Highland, CA (June 6, 2023) - The San Manuel Band of Mission Indians (“SMBMI” or “San Manuel” or “Tribe”) today announced that the San Manuel Investment Authority (“SMIA”) through its affiliated entities acquired an ownership interest in the newly renovated Waldorf Astoria Monarch Beach Resort & Club (“Waldorf Astoria Monarch Beach” or “Waldorf Astoria”) in Dana Point, Calif. One of Southern California’s iconic luxury resort destinations, Waldorf Astoria Monarch Beach will be the Tribe’s latest addition to its expanding resort portfolio. “Investing in a luxury destinati...
MCR Acquires Three Hotels in Florida
MCR | June 5, 2023
NEW YORK--MCR — the country’s 3rd-largest hotel owner-operator — has acquired three hotels in Florida. Totaling 384 rooms, the portfolio includes a Hampton Inn by Hilton, a Courtyard by Marriott and a Hyatt Place in Orlando and Daytona Beach — both among Florida’s fastest-growing markets. With this portfolio acquisition, MCR now has 13 hotels in Florida. How magical! The 169-room Hyatt Place Orlando/Lake Buena Vista is located a few miles from Walt Disney World Resort and in walking distance of the world-class shopping, dining and entertainment offered in the Disney Springs district. It’s also a short drive from iconic desti...
Summit Hotel Properties Acquires Residence Inn Scottsdale North for $29 Million
Summit Hotel Properties | June 5, 2023
AUSTIN, Texas, June 5, 2023-- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the acquisition of the 120-guestroom Residence Inn Scottsdale North for $29.0 million through its joint venture with GIC. Additionally, the Company is providing an update on previously announced disposition activity. Residence Inn Scottsdale North Acquired for $29.0 Million On June 1, 2023, the Company completed the acquisition of the 120-guestroom Residence Inn Scottsdale North ("Hotel") for $29.0 million through its joint venture with GIC. Located in Phoenix's high growth affluent North Scottsdale s...
